Can I retire at age 60 with 998,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$82,414$81,680$80,964$80,265$79,582$78,751
2 years$40,799$40,039$39,303$38,589$37,896$37,059
3 years$26,929$26,166$25,431$24,724$24,043$23,226
4 years$19,996$19,235$18,508$17,812$17,148$16,357
5 years$15,837$15,080$14,363$13,682$13,035$12,274
6 years$13,065$12,314$11,607$10,941$10,314$9,582
7 years$11,086$10,341$9,646$8,995$8,388$7,686
8 years$9,602$8,865$8,180$7,546$6,959$6,287
9 years$8,449$7,718$7,046$6,428$5,860$5,218
10 years$7,527$6,803$6,143$5,541$4,993$4,380
11 years$6,773$6,056$5,408$4,822$4,294$3,710
12 years$6,145$5,436$4,799$4,230$3,722$3,165
13 years$5,614$4,913$4,288$3,734$3,245$2,717
14 years$5,159$4,465$3,853$3,315$2,845$2,343
15 years$4,766$4,079$3,478$2,956$2,505$2,029
16 years$4,422$3,743$3,154$2,647$2,214$1,763
17 years$4,118$3,447$2,870$2,378$1,963$1,537
18 years$3,849$3,185$2,620$2,143$1,745$1,343
19 years$3,608$2,952$2,398$1,937$1,556$1,176
20 years$3,392$2,743$2,201$1,754$1,389$1,031
21 years$3,196$2,555$2,024$1,592$1,243$906
22 years$3,019$2,385$1,866$1,447$1,115$797
23 years$2,857$2,231$1,723$1,318$1,000$702
24 years$2,709$2,090$1,593$1,202$899$619
25 years$2,573$1,961$1,476$1,098$809$547
26 years$2,448$1,843$1,369$1,004$729$483
27 years$2,332$1,735$1,271$919$657$427
28 years$2,224$1,635$1,181$842$593$378
29 years$2,124$1,542$1,099$772$535$334
30 years$2,031$1,456$1,024$709$484$296
31 years$1,945$1,377$955$651$437$262
32 years$1,863$1,303$891$598$396$232
33 years$1,787$1,234$832$550$358$206
34 years$1,716$1,169$777$506$324$183
35 years$1,648$1,109$727$466$294$162
36 years$1,585$1,053$680$429$266$144
37 years$1,525$1,000$636$395$241$128
38 years$1,469$950$596$364$219$113
39 years$1,415$903$558$336$198$101
40 years$1,364$860$523$310$180$89
41 years$1,316$818$491$286$163$79
42 years$1,271$779$460$264$148$70
43 years$1,227$742$432$244$134$63
44 years$1,186$708$405$225$122$56
45 years$1,146$675$381$208$111$49
46 years$1,109$644$357$192$101$44
47 years$1,073$614$336$177$91$39
48 years$1,039$587$316$164$83$35
49 years$1,006$560$297$151$75$31
50 years$974$535$279$140$68$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $998,000, adding $6,822 every year, while hoping to spend $44,838 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 67/24/9 Blend
59$998,000$998,000$998,000$998,000
60$1,106,833$1,053,939$1,038,470$1,178,567
61$1,172,023$1,057,875$1,025,551$1,231,039
62$1,242,359$1,060,500$1,010,697$1,282,375
63$1,318,319$1,061,705$993,795$1,337,319
64$1,400,429$1,061,369$974,728$1,396,219
65$1,489,264$1,059,368$953,373$1,459,457
66$1,585,459$1,055,567$929,602$1,527,455
67$1,689,711$1,049,825$903,279$1,600,680
68$1,802,787$1,041,992$874,264$1,679,648
69$1,925,530$1,031,908$842,410$1,764,927
70$2,058,866$1,019,404$807,563$1,857,145
71$2,203,816$1,004,300$769,562$1,956,996
72$2,361,501$986,407$728,238$2,065,243
73$2,533,157$965,523$683,417$2,182,732
74$2,720,141$941,436$634,914$2,310,396
75$2,923,949$913,920$582,536$2,449,263
76$3,146,225$882,735$526,085$2,600,469
77$3,388,780$847,630$465,349$2,765,269
78$3,653,608$808,335$400,110$2,945,046
79$3,942,902$764,570$330,140$3,141,328
80$4,259,078$716,033$255,199$3,355,801
81$4,604,794$662,410$175,039$3,590,326
82$4,982,980$603,364$89,399$3,846,957
83$5,396,857$538,543$0$4,127,959
84$5,849,978$467,572$0$4,436,025
85$6,346,249$390,057$0$4,782,896
86$6,889,977$305,581$0$5,163,053
87$7,485,903$213,702$0$5,579,885
88$8,139,246$113,955$0$6,037,129
89$8,855,759$5,848$0$6,538,908
90$9,641,775$0$0$7,089,767
91$10,504,271$0$0$7,724,071
92$11,450,930$0$0$8,422,031
93$12,490,219$0$0$9,188,351
94$13,631,460$0$0$10,029,914
95$14,884,927$0$0$10,954,304
96$16,261,933$0$0$11,969,874
97$17,774,944$0$0$13,085,827
98$19,437,693$0$0$14,312,300
99$21,265,308$0$0$15,660,462
100$23,274,456$0$0$17,142,619